Just an easy way to monitor trends and avoid fake signals. // Consolidation periods based on moving average slope. // Sideways markets are the ultimate challenge to most strategies. // No trading zones will dismiss some fake signals.
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In this version just minor adjustments
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New version with minor adjustments. Moving averages Slope with no trade zones where slope is under Threshold.
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Added visual volatility circles based on time time frame previous bar slope. High local slope leads to possible greater changes in market.
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Updated with some popular moving averages and source inoputs as well.
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- Added a better way to scale moving average to 100 scale. This way is better to fit with other indicators like RSI for example. - Changed MA Acceleration to line for reading purposes.
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Small changes to make it better normalizing MA acceleration plots to last 200 bars. This will better fit in high priced assets. Changed Acceleration to circles, adding more transparency to low values.
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Minor changes in NTZ fill color.
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Just added five alerts as suggested. EMA Slope changed to Up or Down direction EMA Slope enters or leaves the No Trade Zone Channel.
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Alerts will trigger only off NTZ
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The EMA slope, or Exponential Moving Average slope, is an indicator commonly used in technical analysis to identify and assess market trends. It measures the rate of change or the slope of the Exponential Moving Average line.
The Exponential Moving Average is a type of moving average that places more weight on recent data points, making it more responsive to recent price changes. The EMA slope is derived from the EMA line by calculating the difference between the current EMA value and the EMA value from a certain period ago.
By monitoring the EMA slope, traders and investors can gain insights into the strength and direction of a market trend. When the EMA slope is positive, it indicates an upward trend, suggesting that prices are generally rising. Conversely, a negative EMA slope suggests a downward trend, indicating that prices are generally falling.
One important characteristic of the EMA slope is its proximity to zero. As a trend begins to lose momentum and potentially reverse, the EMA slope starts to approach zero. This means that the rate of change in the EMA line is slowing down, indicating a possible consolidation phase or a period of market indecision. This "grey zone" serves as an important visual representation of consolidation times, where the market is neither strongly bullish nor bearish.
The improved version of the indicator you mentioned likely enhances the functionality and display of the EMA slope. The improved alarms likely provide more accurate and customizable notifications when specific conditions related to the EMA slope are met, allowing traders to stay informed about potential trend changes. Additionally, the better display for the moving average acceleration likely provides a clearer and more intuitive representation of the EMA slope's behavior, enabling traders to quickly identify and interpret market trends.
Overall, the EMA slope indicator, with its ability to identify trend reversals and consolidation periods, can be a valuable tool for traders and investors in their decision-making process, helping them to better understand market dynamics and make more informed trading decisions.
This is the indicator I really needed. Thank you so much & God Bless!
selene100
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My favorite!
lorcuci
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why does the alert entered ntz work only after the green zone? After the red zone does not activate only after the green zone
floppy5_25
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The alerts are a great addition, thank you. However they change slope up or down alerts are creating frequent false alerts. Other alerts (entering and exiting channel) are working fine
xvelox_
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@floppy5_25, We did upgrade it, please take a look
floppy5_25
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@xvelox_, Thank you for the update. I upgraded and the false change of slope alerts are still there. They seem to happen right at the candle change, i.e. if I have an alert on a change to slope down on a 10minute chart, they happen on the new candle (10:10, 10:20 etc). I am not 100% sure of this but I will keep an eye on it today. Is there a way to attach screenshots to this comments? (so you can easily see it happening). Thanks again for this script and willingness to work with users of the script.
xvelox_
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@floppy5_25, this slope change direction alert is intended to show pull backs but it can be very busy if slope is kind of flat, pointing up and down frequently. Make sure you set it up once per bar. We changed it to only trigger outside the channel though. If you need less alerts you can use the other ones.
floppy5_25
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@xvelox_, Thank you for the tip. Alerts are on once per bar and I use the other alerts. I do not mind more alerts but false alerts are confusing and keep happening for example SPX 10 min chart, EMA very steep up, on the "green part" of the NTZ and alerts of EMA slope _down_ are generated. As mentioned before this false alerts happen right at the candle change. I would add a screenshot to help troubleshoot if I could. Thanks.
xvelox_
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@floppy5_25, actually EMA slope on the green side means it is a positive slope but these slope_down mean that the rate of the slope is decreasing recently. This can show a slope peak turned down that can lead to a future reversal on trend or a pullback (slope_up) turn. basically the alarm will go off on any turn down of the plot, everytime current slope value is lower than last slope value. Sometime this can happen in one bar and then reverse on the next.
floppy5_25
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@xvelox_, Got it. It was a misunderstanding on my part. I thought that an alert of slope down was an alert on the slope of the EMA changing from positive to negative (i.e crossing the zero line) and not a negative change in the rate of change of the EMA (de-acceleration of the slope). Sorry for the confusion. I think it will be a great addition to actually be able to set alerts on the EMA slope crossing the zero line (changing from a positive slope to a negative slope and vice versa). Thank you for your willingness and prompt engagement with users of your script.